Louisiana Governor John Bel Edwards Signs House Bill 396 to Remove Sales Tax from Certain Precious Metals

Baton Rouge, Louisiana -- Sound money advocates rejoiced as Governor John Bel Edwards signed House Bill 396 into law in recent days. HB 396, which passed in the Louisiana state house and senate earlier this month by overwhelming majorities, removes state sales taxation of precious metals, specifically gold, silver, and platinum coins and ingots.

Representative Stephen Dwight (R-Lake Charles) and Representative Mark Abraham (R-Lake Charles) introduced HB 396 with the goal of encouraging precious metals purchasers to keep more of their investment dollars inside the state rather making investments elsewhere.

The bill impacts purchases of platinum, gold, or silver bullion that is valued solely upon its precious metal content, whether in coin or ingot form. It also impacts numismatic coins that have a sales price of no more than one thousand dollars ($1,000) and numismatic coins that are sold at a national, statewide, or multi-parish numismatic trade show.

Continue reading here.